FxWirePro- EURUSD Daily Outlook

Ichimoku analysis (4-hour chart)

 Tenken-Sen- 1.07948

 Kijun-Sen- 1.08322

EURUSD showed a minor selling amid US debt optimism. Markets eye for US President Biden and McCarthy to meet at the White House on Monday.  It hits an intraday low of 1.07957 and is currently trading around 1.08031.

 According to the CME Fed watch tool, the probability of a no-rate hike in June increased to 86.2% from 84.50% a week ago.

 The US 10-year yield halted its six days of bullish trend ahead of US debt negotiations. The US 10 and 2-year spread narrowed to -58.70% from -108%.

The pair trades below short-term 21 EMA, 55 EMA, and long-term (200-EMA) in the 4-hour chart.  Any indicative break below 1.07600 confirms intraday bearishness; a dip to 1.0700/1.066 is possible. The near-term resistance is around 1.0800. The breach above targets 1.0850/1.0900/1.09300/1.1000.

  Indicator (4-hour chart)

   CCI – Bearish

  Directional movement index – neutral

It is good to sell on rallies around 1.0850 with SL  around 1.0900 for a TP of 1.0750.